Bank Of Canada - BOC

DEFINITION of 'Bank Of Canada - BOC'

The central bank of Canada, that came into existence after the passing of the Bank of Canada Act in 1935, influences the country's economy and money supply.

BREAKING DOWN 'Bank Of Canada - BOC'

The biggest tool at the BOC's disposal is the short-term lending rate (overnight rate) between banks. The Bank of Canada also manages government debt as well as issues new currency.

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RELATED FAQS
  1. Who decides to print money in Canada?

    In Canada, new money comes from two places: the Bank of Canada (BOC) and chartered banks such as the Toronto Dominion Bank ... Read Full Answer >>
  2. Is Canada a developed country?

    Canada is a developed country. Countries that are considered to have developed economies exhibit strength in typical economic ... Read Full Answer >>
  3. Are Canadian Pension Plans inflation-protected?

    The Canada Pension Plan protects pension holdings against inflation and adjusts its annual rates for inflation. The Canada ... Read Full Answer >>
  4. Are tax shelters legal in Canada?

    Most tax shelters are legal in Canada. However, there have been illegal tax shelter scams that the Canada Revenue Agency ... Read Full Answer >>
  5. Does Canada have Social Security numbers?

    Social Insurance numbers (SINs) in Canada are equivalent to Social Security numbers (SSNs) in the United States. Canadian ... Read Full Answer >>
  6. Who decides to print money in Russia?

    The Central Bank of the Russian Federation (CBRF), like its peers in most countries, is the governmental entity responsible ... Read Full Answer >>
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